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UVU - MKTG 3600 - Class Notes - Week 8

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UVU - MKTG 3600 - Class Notes - Week 8

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background image We made paper airplanes and flew them and had to market them to the class. 
We them built towers out of an envelope, tape, yarn, and spaghetti noodles 
We measured the height of the towers and distance the place flew. 
He has not told us what his friend from London said about our band pitches we made. 
One of the days he told us we will fail until we get where we’re going. 
He told us that when we pitch a new idea we should spend 80% of the time on the solution and 
20% of the time on the solution. 
Get good at looking at problems. 
Where there are lines there are opportunities. 
He had us get into groups of two and pitch out best entrepreneurial ideas for some problems. 
He told us to watch out for marketing myopia. 
One time he put $1,000 dollars into a robot named stompy, because he really wanted the cool 
thing to exist. His wife gives him $1,000 dollars per year to blow on stuff like that. 
You need five things to get a new idea off the ground: 
● Energy 
● Knowledge 
● Network 
● PASSION!!!!! 
● 8/10 commitment, or don’t go for it 
When you pitch something, ask for a small amount up front and give them the first right of 
refusal to give 2 million to start the company. 
Money doesn’t solve things, demand does. 
Always have an exit strategy. 
Get your business appraised at least once per year. 
October Sky is a sick entrepreneurial movie, as well as 
The Pursuit of Happiness 

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School: Utah Valley University
Department: OTHER
Course: Marketing
Professor: Lee
Term: Fall 2018
Name: Class notes
Description: This covers what we talked about in class.
Uploaded: 10/17/2018
1 Pages 22 Views 17 Unlocks
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